Friday, 6 November 2009

BANGLADESH: Remittance on growth path

Reduced migrant outflow notwithstanding

IN spite of being arrayed against adversities, remittance flows into the country have been on the growth path. It is the rate of increase that has been subject to fluctuations but not growth as such. On top of this, we now have a definitively positive piece of news in that the WB's projections of a reduced remittance growth for the current fiscal are already being assailed if the figure for the first four months of the current fiscal is any guide. The growth of inflow stood at 21.23 percent during July to October and there is cautious optimism about outlook for economic recovery in the host countries possibly brightening up in the remainder of the year.

The figures speak for themselves as Bangladesh recorded remittance inflow of $3.61billion between July and October, 2009 compared with $2.98 billion in the same period last year. The forex reserve has crossed $9 billion in August compared with $7.74 billion in July. Read more

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